Ireland has slipped down the league of competitive economies according to the IMD World Competitiveness Yearbook rankings.
The United States remains at the top of the ranking as a result of its strong business efficiency and financial sector, its innovation drive and the effectiveness of its infrastructure.
Ireland comes in 16th place in the overall list, one place below last year, but still ahead of New Zealand, Australia and the United Kingdom. Ireland also ranked better than France, Italy, Greece, Spain, Portugal, Austria and Belgium.
Contributed By Sonia Narula